A cocktail-making event featuring non-alcoholic ingredients is an unconventional way to attract the attention of young investors.
Especially when most fresh-faced workers prefer to imbibe something a little stronger on a Thursday evening as the weekend draws near.
But this is the unorthodox tactic currently being used by upmarket stockbroker Killik & Co to attract new – and possibly younger – clients to the benefits of long-term wealth management.
Time for battle: At the Fund Manager Fight Club two fund managers go head to head
Investors can tweet its head of personal finance at @moiraoneill with questions or email [email protected] with the subject ‘Stupid Questions’.
Moira O’Neill says: ‘The world of investment is a minefield of jargon, and knowing how to get started can be intimidating.
‘Terms such as platform, active management and robo adviser have nothing to do with railway stations, fitness or actual robots. So there can be few questions that are as stupid as some of the jargon the industry has invented.’
The broker also emphasises that investors do not have to be wealthy to invest – it is possible to get started from as little as £25 per month. With this group in mind Interactive Investor offers three ‘quick start’ low cost, passively managed funds from Vanguard.
APP THAT LETS PEOPLE BUY SHARES FOR FREE
A new sharebuying app called Freetrade was launched last year with the aim of offering a low cost challenger service to expensive and stuffy stockbroking services.
So far 15,000 investors have signed up with 75,000 more on its waiting list. The app allows investors to buy shares, exchange traded funds and investment trusts for free – so long as purchasers are happy to join with other customers to buy via a ‘basic order’, which is made at 4pm each day.
Those who want to make an instant order rather than gamble on what might happen at one point in the afternoon can pay £1 a trade. This compares to £10-£12 charged by many mainstream brokers.
If customers want to hold stocks and shares in an Isa the fee is £3 a month. Founder Adam Dodds says: ‘Our app means people can start investing for no cost.’
The app has a few tweaks in the pipeline. For example, customers at the moment can only make purchases by a bank transfer but debit card facilities will follow soon. It also hopes to eventually give investors access to fractional shares.
For example, Facebook shares cost $170 (£130), with a single share potentially out of reach for many who would like to have a piece of the social media company’s potential future success – with fractional shares they might be able to buy exposure for just £10.
Freetrade holds monthly gatherings aimed at first time investors, explaining the advantages of stock market investing ‘over beer, wine and pizza’. Investors can also exchange ideas via the app’s online community.